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The investor presentation is corporate America’s way of expressing seriousness of purpose. Unfortunately, when a company changes its mind (“pivots”, to use the dreaded term), dated slides are an unfortunate, if permanent thanks to the SEC, reminder of strategies now discarded. Here’s eBay from January:Continue reading: eBay: From synergies to agility
PayPal’s new president, Dan Schulman, knows a little something about payments. In his previous job at American Express, he launched Amex’s “Bluebird” project, an alternative banking product that bears some resemblance to PayPal. But how will he approach PayPal’s burgeoning credit division?
PayPal has a credit portfolio of more than $3bn, and data from the latest quarter implies $500m of credit revenues on an annualised basis. Check out this slide from PayPal’s quarterly results in July:Continue reading: What’s up with PayPal credit?
In one of today’s more shocking pieces of news, it appears that banks are not doing as well as they like to think they are.
Confirmation of this comes via the Enhanced Disclosure Task Force, a body set up by the Financial Stability Board to tell banks what information they should be reporting and how they should be reporting it. The EDTF made 32 recommendations in 2012 and since then has been monitoring how they have been getting along.Continue reading: What banks tell you, and what they don’t
We’ve commented before in Lex (prior to the World Cup) on the notion that any news that hints at Dilma Rousseff’s chances of winning the October presidential election will not play well for traders of Petrobras, the state oil company. The poor showing in the World Cup couldn’t have helped her standing and, no surprise, the rally in Petrobras roared ahead afterwards.Continue reading: Petrobras: Poll dancing II